Mandalay property sales spike due to low rates, strong currency

Despite the COVID-19 pandemic, pockets of demand have been emerging in the Mandalay real estate sector, said U Tin Maung, chair of the Myanmar Real Property Development Association. He said sales of properties priced at around K100 million-K300 million to Chinese nationals have risen in the wake of the pandemic as a result of lower […]

Beneficial-owner database lauded despite some weaknesses

Owners of major businesses or their close relatives who hold prominent public positions have so far not declared themselves as such, according to a Myanmar Times review of a new government database on beneficial ownership. The Directorate of Investment and Company Administration (DICA) recently published on its website the beneficial-ownership database for the Extractive Industries […]

Myanmar Times Co-Founder Ross Dunkley Jailed for 13 Years in Drugs Case

YANGON—After a trial lasting more than a year, Australian national Ross Dunkley, the co-founder of the Myanmar Times newspaper, and his compatriot John Mckenzie, a former IFC and World Bank adviser, were sentenced to 13 years in prison by a Yangon judge on Tuesday for violating Myanmar’s anti-narcotics law. The two foreigners were apprehended in […]

Corporate Japan urges Myanmar to address business concerns

The most senior Japanese business leader in Myanmar urged the government to recognise how liberalisation, efficient bureaucracy and reliable power supply allowed Thilawa Special Economic Zone (SEZ) to attract considerable investments. He also warned that current restrictions placed on foreign firms in the retail and wholesale sector are already “the maximum” but commended the ministry’s […]

Mangosteen PR, Dugro, Myanmar Times launch Myanmar’s first-ever moving photo release

The growing up milk brand, and Myanmar Times combined to launch the country’s first app-assisted photo release published in The Myanmar Times Daily on November 20, 2018. The video-photo release, a hybrid-media platform reminiscent of newspapers seen in Harry Potter movies, uses the iSmart Photo app—an online application that utilizes coding technology to identify a […]

First flight from Italy to Myanmar arrives tomorrow

An air link between Italy and Myanmar will be established starting tomorrow. Milan-based Neos Spa, an Italian leisure airline, will begin flying the route with a chartered Boeing 767 every Wednesday. The flight will stop over in Phu Quoc, Vietnam before landing at Yangon International Airport. Neos will be the first airline to fly from […]

Draft law for foreigner-only casinos in Myanmar: report

A bill that would authorise in principle the setting up of foreigner-only casinos in the Southeast Asia state of Myanmar was submitted to the lower house of the country’s legislature on Tuesday, the Myanmar Times newspaper reported on Wednesday. The Gambling Bill 2018 is said to include amendments to an existing statute, the Gambling Act […]

Illegal trade more rampant than before, govt measures not effective

Government efforts to prevent illegal border trade have not been effective or sufficient and counterfeit goods are still being smuggled into the country. In fact, things are worse than before. “Illegal trade can’t be controlled. Illegal trade is worse than before even though measures were taken to reopen some of the border gates by the […]

FMI ventures into affordable housing

First Myanmar Investment (FMI) will be investing in the affordable housing sector in a bid to offset falling revenue from its construction businesses, FMI chair Serge Pun said during the firm’s 26th annual general meeting, held at the Yangon National Theatre, on July 29. He said the domestic property sector has no demand as those […]

Myanmar opens visa-on-arrival door

YANGON, 31 July 2018: Myanmar confirmed late last week it would ease visa procedures for three nationalities 1 October. Tourism officials quoted government sources saying tourists from Japan, South Korea and China would be granted a visa-on-arrival for up to 28 days. Details were sketchy with none of the official websites for the Hotels and […]